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Search Results 0 to 24 of about 25 (some duplicates have been removed)
.s. department of justice report about h.s.b.c. holdings, one of the largest banks in the world. to avoid criminal prosecution, h.s.b.c. admitted today that it laundered more than $800 million for mexican drug cartels and covered up illegal transactions for burma, iran, sudan, cuba, and libya. those nations were under banking sanctions because of human rights atrocities, terrorism, or, in iran's case, a nuclear program. the british bank will pay $1.9 billion to the u.s. government, the largest such fine in history. senior correspondent john miller is in new york following the story for us tonight. john? >> reporter: scott, it's a case that has everything: everything except an arrest. and that struck some as odd because in an 80-page document of court papers, the bank admits to almost going out of its way to act as a financial clearing house for international pariahs and drug dealers. h.s.b.c. officials listed mexico in its lowest risk category for money laundering during a four- year period when mexican drug cartels were funneling hundreds of millions of dollars through the bank. u.s. att
to come and we will see how those, as well. the great state of south carolina. great fobeing with us. hsbc agrees to being a mexican drug cartel bank. terrorists.ertern tonight she meets the former employee wriried to stop hsbc illegal conduct, former hsbc vice president with us tonight for an exclusive interview. progressive claims. this is flo. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. lou: hsbc facing more legal problems tonight. it was a blower who worked as a former vice president and senior business manager is suing the largest bank, second-largest tank in the world for $10 million. said he was ongfully terminated from hsbc after he reported on suspected frauduleno accounts used for moneyer laundeng.n back in 2009. yesterday hsbc agreed pay are fine of $1.9 billion for transferring billions of dollars to nations including iran and drug cartels moving their money illegally through amer
. hsbc agrees to being a mexican drug cartel bank. terrorists.ertern tonight she meets the former employee who tried to stop hsbc illegal conduct, former hsbc vice president with us tonight for an exclusive interview. xclu. suddenly, she does something unexpected and d you see the woman you fell in love with. she's everything to you. but your ererectile dysfunction- that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approd to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialisf you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an
. they then funneled hundreds of millions of dollars of transactions through the united states through hsbc there. be evading u.s. prohibition on such transactions by disguising the force of the fund so payments could go for a. hsbc has admitted its guilt to the four count information filed today which sets forth two violations of the bank secrecy act, violation of the international emergency economic powers act and violation of the trading with the enemy act. as part of its resolution of these charges hsbc has agreed $1,256,000,000, the largest amount ever by a financial institution for compliance failure. they also agreed to pay civil penalties of $665 million to resolve parallel regulatory actions brought by the office of the comptroller of currency and the federal reserve bank for a total recovery of over $1.9 billion. the resolution also requires hsbc to implement a series of compliance reforms that we expect to become a model in the financial industry. today's resolution involves multiple agencies and the culmination of years of investigation and analysis. the bank secrecy act investigation
-erian joins us. he's the c.e.o. of pimco. >> tom: still head, british bank hsbc agrees to pay a record fine for laundering mexico drug money. >> susie: it's a major hit to organized labor-- michigan approved legislation today that would greatly limit labor rights. protestors swarmed the state capital as lawmakers passed a bill prohibiting unions from requiring employees to join and pay dues. the move would make michigan, one of the most union-friendly states, the 24th "right to work" state, where union dues are voluntary. >> tom: more bumpy skies for boeing's 787 dreamliner. boeing's much anticipated and high-profile plane was grounded last week, according to "the new york times." the federal aviation administration also has ordered that fuel line connectors on all 787s be inspected. analysts call these problems minor hiccups. but as sylvia hall reports, the dreamliner's profitability to boeing right now is raising bigger concerns. >> reporter: boeing's 787 dreamliner promises to use about 20% less fuel than other planes. that's a big deal for an airline industry struggling with fuel costs.
a pro. melissa: breaking news right now. the justice department announcing hsbc will pay a whopping $1.9 billion to settle a money-laundering probe. o'connell charges be filed? adam shapiro in the news from following this story so closely and has more now. adam. >> we're all getting caught up in $1.9 billion historic fine, but not one person from hsbc will be prosecuted for what the assistant u.s. attorney general says was blatant and egregious violations of u.s. law. it is worse than that. they went on his hsbc work with governments to break the law, foreign governments with terrorists they threatened by their actions the lives of u.s. citizens. saying at one point, and this is a quote, he says i don't think anyone is alleging hsbc was the mastermind of many of these schemes. rather the compliance was so lax that it was allowed to happen. listen to what he said at the beginning of the conference about how hsbc helped governments rake the law. in his own words. >> on at least one occasion hsbc instructed a bank in iran how to format payment messages so that the transactions would not b
from lansing. not one worker from europe's biggest bank, hsbc, will far us a criminal charge after they were accuses of failing to guard against terrorists, tax cheat and drug cartels but agreed to pay a record $1.9 billion fine to settle the case. that probably won't hurt this bank at all. last quarter, they reported $2.5 billion in net profit. according to the treasury, the failure to police transactions allowed hundreds of millions of dollars in drug money from mexican cartels to flow into the united states. the feds report the bank broke finance laws when they did business with iran and libya and cuba and others. under their deem with the feds, the bank will pay the record fine, change some policies, but not one bank employee will ever face criminal prosecution. the prosecutors say department of justice officials wanted to bring criminal charges but decided not to not because of a lack evidence but because it would put the future of the largest banks at risk. think of that. not because they didn't have the goods. they were worried about the banking system. this says clearly it
. it seems bankers were a little too lax with their banrs. hsbc has agreed to pay a fine in the united states in connection with charges of money laundering. media reports say the fine will be the largest ever paid by a bank to u.s. authorities. hsbc admitted on tuesday its anti-money laundering measures had been inadequate. the bank agreed to pay the penalties to u.s. authorities including the justice department. the bank says it accepts responsibility for past mistakes and has beefed up its internal controls. in july, a u.s. senate report accused the bank of being involved in money transfers linked to drug deals originating in mexico. the report also said the bank settled money transactions with links to iran, a country under u.s. sanctions. >>> now, british authorities have arrested three british men. that's over their alleged connection to a rate-fixing scandal involving libor, the london interbank offered rate. the serious fraud office announced tuesday the first arrests in the case that has rocked the financial community. but officials gave no details other than the arrested men are bri
's how it goes. hsbc perhaps even worse. here's a bank that did business with apparently the bank that funded al-qaeda, including wiring money to one of the 9/11 attackers that did business with the drug lords. what do they get? a $1.5 billion fine. nobody gets arrested. why? they're too big to jail. brian asked about that in this report. watch this. >> this is a very just, very real and very powerful result. >> you don't think the bank got off easy? >> no, and i don't think the bank thinks it got off easy. >> $38 billion in profits over the last two years hsbc can easily afford it's payment. >> cenk: yeah, a joke. nonsense. i mean, the fact that these guys are not in jail when they're the biggest money launderers for drug straighters in the world. stephanie george is sitting in jail and has a life sentence because her exboyfriend hid cocaine in her attic. her earlier convictions were for drug transactions equalling $40 and $120. $40 and $120, life sentence. the top bankers who funneled all the money to the drug lord says, no sentence. there's just no justice in that. kneel parovs
. thanks. a stunning admission from one of the biggest banks in the world. the bigs at hsbc admit that they laundered money for drug cartels. they allowed forbidden transactions with countries including libya and iran. but nobody is going to prison. instead the bank executives are just saying we are sorry and paying a fine. the justice department announced agreement with hsbc the biggest bank in all of europe. as part of of the deal hsbc agrees to pay $1.9 billion in fines. a lot of money certainly. but for this bank it's the equivalent of roughly seven weeks of profits. in exchange, these are among the charges that will now disappear. laundering more than $880 million in drug money. and allowing $660 million in prohibited transactions from countries including libya, cuba, burma, sudan and iran. federal prosecutors say the bankers didn't just look the other way, they actually went a step further. one occasion hsbc instructed a bank in iran on how to format payment messages so that the transactions would not be blocked or rejected by the united states. >> shepard: in other words, t
. a record settlement but no prosecution at global banking giant hsbc. admits it failed to stop money laundering by mexican drug cartels and terrorism financiers. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees, like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. >>> this is where high finance and street crime intersect could be a problem on your street as well. talking about the banking giant hsbc, europe's largest, have to pay $2 billion to settle investigation by u.s. prosecutors who are looking into international drug money laundering. investigators say the bank ignored rules that could have stopped this laundering operation, that the money went to drug cartels and terrorists. jim bolden is joining us london. what happened? >> reporter: well, suzanne, this is interesting. all of these banks have been fined by the u.s. government over last few years but hsbc, by far, the biggest. this fine, as you say, $1.9 billion. the go
.9 billion, that's how much global banking giant hsbc is paying the united states government to resolve accusations of money laundering for mexican drug cartels and terror-linked groups in saudi arabia. business correspondent christine romans joins us now from new york, and it's a serious allegation here. >> it really is and the group hsbc, the uk's largest bank wants to put this behind it, trying to settle the serious allegations, $1.92 billion will be what they will pay the u.s. government, there will be a press conference later today, the justice department, the manhattan d.a. and others to put this to rest. banks operating in the u.s. have an obligation to know their customer and abide by u.s. laws and u.s. sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the who
. bankings are usually in the business of making money and not handing it over. in a record fine, hsbc pays $1.9 billion to settle u.s. allegations of money laundering. our chief economics correspondent has all the details. >> the largest bank in money- laundering, cartels washed through the bank. it resulted in a $1.9 billion fine, the biggest in u.s. banking history. the american authorities >> the corruption of the financial system by drug traffickers and other criminals, and free evading u.s. sanctions and law. >> they find $7 billion will be transferred between mexico and the u.s.. there were 25,000 transactions involving iran. in $290 million in suspicious traveler's checks were cleared by the bank. in a statement, they said they were story -- sorry for past mistakes. the former chairman was appointed as trade minister for david cameron. he had this to say when the allegations emerged in july. >> there were failures of the implementation, they expressed regret for that. it is a company i am proud to have worked for. >> they are not the only british bank to run these. the accusations o
. >>> british banking giant hsbc agreed to pay $1.92 billion to settle a money laundering investigation here in the u.s. hsbc is accused of transferring billions of dollars for nations like iran doing business with firms linked to terrorism and enabling mexican drug cartels to move money illegally through u.s. subsidiaries. the settlement represents the largest pen the ever paid by a bank. >>> now pot is officially legal in colorado. people 21 and older may have up to 1 ounce of weed, smoke it, not in public and grow a small amount at home as well. the governor has created a task force to help implement the law. here's the problem. it's complicated. the federal government still says marijuana is illegal. >> rocky mountain high. i'll be the billionth person to say that. >>> countdown to double secret lift jop. the space plane is cleared to lift off at 1:05 p.m. eastern time from cape canaveral. this is an unmanned reusable mini verlgs of the space shuttle. it lifts off vertically and lands on auto pilot on a runway. no one knows what it's carrying. the cost to develop it, that is also classif
, it was scandal unpunished. fines against hsbc, expensive mistakes at citi corp, jpmorgan chase cries out for real reform and real arrests of senior executives. where is the justice and where is the justice department? joining me now, dennis kelleher, president and ceo of better markets. dennis, is it fair to say that by in large, wall street and senior executives continue to get off almost scot free? >> the objective evidence proves that to be true. the real question is when is the law going to be applied to wall street like it is applied to the rest of main street and the rest of america. it is interesting, at the conference announcing the ubs settlement of $1.5 billion, the head of the criminal division said crime on wall street will not be tolerated. while he was indicting a japanese subsidiary of a swiss bank. and i know that geographically challenged they may think they're getting closer to wall street but wall street's much closer than either of those places. i can't wait for them to find it. >> eliot: i suppose some
is hsbc, apparently avoiding a criminal indictment but only because filing criminal charges could have destabilized the world's financial system. instead, the bank pay a record penalty. nearly $2 billion this that settlement, and as rick was just mentioning, the bank is facing a slew of accusations including that it transferred funds to mexican drug cartels and also transferred funds to nations like iran, evading international sanctions. charlie gasparino has more from the fox business network. charlie, is this unique only to hsbc, or is in the first domino to fall here? >> well, i mean, there may be other banks, but it follows a pattern that the justice department has used since arthur anderson following the enron scandal. they didn't want to put any more big companies out of business, so they go into these deferred prosecution agreements, today hit the bank with a big fine and then today kind of move on. what's kind of like -- what's not good about this is that if you think about it, shareholders are suffering when you had probably individual employees who committed possible crimes h
on to the head and died from his injuries. it is it the largest fine paid by a bank. hsbc agreed to pay 1.89 billion to settle a money laundering case. it is for nations like iran and enabled mexican drug cartels to move money loolly through the american subsidaries. are you ready for some country? ♪ ♪ wrecked my heart. ♪ i should never let go. ♪ the one that good away. >> gretchen: the american country award kicked off in vegas. luke bryant took home nine awards including artist of the year. >> country music. we get to do what we love and for people who are honest and hard working and beautiful people thoo support great music. >> he went on to do the right thing thanking his wife and band and all of the fans and those are your headlines. >> steve: very nice. michigan is poised later today to pass landmark legislation. big labor is furous and marshalling the troops. if you were at the afo head quart ares in michigan, you would have seen cars with license plates from georgia, minnesota and ohio and illinois and they are angry that the people of the great state of the michigan will
of papers. "san francisco chronicle." $1.9 billion settlement with british giant hsbc. they were charged with enabling drug cartels to launder money through the american financial system. >> is that bad? >> billions have dollars on behalf of iran. >> they keep moving the lines. >> i wish the regulators would pass a freakin law and stick with it. >> put your earpiece in so they can tell you to be quiet. >> to laund-if you can't laundey through mexican cartels, what can you do these days? >> sharing with marketers and other third parties without notifying parents. >> this is just not good. >> only 20% of children's apps provide disclosures about that data collection. >> this is the cutest thing. the pope is tweeting. "usa today," pope benedict will make history tomorrow when he takes to twitter to answer his pari parishioner's questions. he already has 900,000 followers in eight languages on his handle at pontiff-x. >> he follows me. >> 900,000 for the pope? beaver's got like 25 million. you would think the pope would be -- >> get off his back! >> i want to do that at some point. i know we
of the big corporate news and this one is actually a global corporate story. >> hsbc. we're talking about paying $1.9 billion in the money lawnering lapses. a brirchb lender admitting to a breakdown of controls, in a statement announcing a deferred payment. yesterday standard chartered agreed to pay $27 million agreeing that it violates sanctions against iran and two other international companies. >> if you're an international bank and you prael without getting into this kind of trouble? >> no. >> can you actually operate without money laundering? >> i'm just saying, if you're going to be in business in all these types of markets, isn't this going to happen? >> aren't there sxwier countries that would be probably -- that it would stead if you don't want any business tale. >> was there a fascination in this country about whether you want to indict the whole institution or what happens systemically. >> is this your sequel? >> i was on the phone last night. one of the two publishers that are left. we have other news on wall street this morning, morgan stanley said to be considering asking th
Search Results 0 to 24 of about 25 (some duplicates have been removed)